Connect with us

Analysis

Dogecoin, Shiba Inu, Uniswap Price Analysis: 06 April

Published

on

Source: Canva

Dogecoin’s three-week trendline resistance stood strong as it pulled back towards its $0.15-support. Now, bulls had to ensure the equilibrium of the RSI to prevent a further fallout.

Shiba Inu and Uniswap displayed a bearish edge on their 4-hour technical oscillators. Moreover, the latter marked oversold readings on its Bollinger bands and RSI.

Dogecoin (DOGE)

Source: TradingView, DOGE/USD

After nosediving from the $0.16-mark to test its long-term $0.11 floor, DOGE recovered in a rising wedge (white) on its 4-hour chart. The alt saw a nearly 40.5% ROI in the last three weeks while it reclaimed the vital $0.15-support.

The recent rally pushed DOGE above the near-term EMAs as the bulls pushed for an advantage. Now, the immediate barrier for the bulls stood at the $0.16-level.

At press time, DOGE traded at $0.1536. The RSI kept testing the overbought mark while maintaining the midline support. Any close below this support could lead to a retest of the 50 EMA (cyan). Meanwhile, the AO flashed a red bar after touching its record high on 6 April. Thus, keeping the possibility of a setback alive.

Shiba Inu (SHIB)

Source: TradingView, SHIB/USD

Despite the bearish resurgence, the buyers upheld the $0.021-mark, as they have for the last two months. Since its March lows, SHIB bulls initiated a nearly 40% rally before falling from its long-term trendline resistance (for simplicity, price is multiplied by 1000).

Since then, the sellers influenced the peaks while flipping the trendline support (yellow) from support to immediate resistance. As a result, the 20 EMA (red) looked south toward a possible bearish crossover with the 50 EMA (cyan).

At press time, SHIB traded at $0.02566. The RSI saw a patterned breakdown that led to a fall below the equilibrium. Hence, the sellers claimed an upper hand while the bulls tried to stall their momentum.

Uniswap (UNI)

After losing the $15.3-mark, UNI bulls finally propelled a trend-altering rally. The alt noted a 65.7% ROI (from its January lows) and touched its seven-week high on 31 March.

Since then, the bears initiated a nearly 15% retracement and poked the lower band of the Bollinger bands (BB). The bulls displayed their eagerness to defend the $10-mark. Thus, one cannot rule out the possibility of a short-term revival from here.

At press time, the alt was trading at $10.63. After facing strong resistance at the 59-point level, the RSI swayed below the midline and aimed to test the oversold mark.

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.


Please select your Email Preferences.

With a background in financial analysis and reporting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analysis of cryptocurrencies.

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.